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$SHIB Is Most Googled Altcoin in Europe

CryptoGlobe Weekly Summary
CryptoGlobe Weekly Summary
While last month the cryptocurrency space’s total market capitalization dropped by around $100 billion as fears of a looming recession hit risk assets across the board, September has so far seen the flagship cryptocurrency Bitcoin ($BTC) outperform the stock market’s benchmark index.
According to available data, in the month of September Bitcoin is up around 13.6% after a significant run over the last few days, while the S&P 500 is up around 4.6%. Gold, on the other hand, has seen its value rise by around 1.9%.
While the precious metal’s performance has been lacking month-to-date, year-to-date gold is down around 3.9%, compared to the S&P 500’s 14% drop, and Bitcoin’s 51.7% plunge. Funding rates for BTC/USDT perpetual contracts on leading exchange Binance and OKX have notably shown sentiment has been changing rapidly on the market, according to CryptoCompare.
Funding rates are period payments traders with long or short positions pay to other traders with different positions on perpetual contracts to ensure the difference in price between the underlying and its perpetual contract remains at a minimum. Depending on their positions, traders either pay or receive funding.
Positive funding rates imply increased appetite for long positions as the perpetual contract trades above market price and long positions pay the rate to short positions, while a negative funding rate suggests negative sentiment and a larger appetite for short positions.

Source: CryptoCompare
Source: CryptoCompare
$SHIB Is Most Googled Altcoin in Europe, $ADA Led in 3 EU Countries
A newly released study has shown that the meme-inspired cryptocurrency Shiba Inu ($SHIB) and smart contract platform Cardano ($ADA) are among the most ‘Googled’ cryptocurrencies throughout Europe, surpassing competitors with larger market capitalization.
While the top five cryptocurrencies by market capitalization, excluding altcoins, are Bitcoin ($BTC), Ethereum ($ETH), BNB ($BNB), and XRP ($XRP), these weren’t the five most Googled cryptocurrencies throughout Europe, at least not in that order.
The study revealed Bitcoin is the most searched cryptocurrency in Europe, with 21 countries searching for BTC more than any other cryptocurrency. These include Germany, Poland, and Belgium. The meme-inspired cryptocurrency Shiba Inu ($SHIB) came in second place, followed by Ethereum and Cardano.
The study has also revealed that Dogecoin ($DOGE) was the fifth most searched-for cryptocurrency in Europe, leading searches in both Greece and Albania. Notably, neither BNB nor XRP led searches in a single country in Europe.
Cardano Founder Says White House Report Suggests Bitcoin Could be Banned in U.S.
 Charles Hoskinson, Co-Founder and CEO of IOG, the blockchain technology firm behind Cardano’s R&D, explained why a recently released White House report paints a worrying picture for Bitcoin in the U.S.
After President Joe Biden signed the Executive Order on Ensuring Responsible Development of Digital Assets, the White House Office of Science and Technology Policy released a report titled “Climate and Energy Implications of Crypto-assets in the United States.”
Hoskinson commented that regulators are “going to start talking to crypto companies to basically tell them to change the way that their cryptocurrencies work,” adding:
“And which way? Well, these should include, ‘Standards for very low energy intensities, low water usage, low noise generation, clean energy usage by operators and standards that strengthen over time for additional carbon-free generation to match and exceed additional electricity load of their facilities.”
Per Hoskinson, if these measures prove ineffective at reducing environmental impacts, Congress “might consider legislation, to limit or eliminate the use of high energy intensity consensus mechanisms for crypto-asset mining.’ Per his words, this could mean a Bitcoin ban.
Mysterious SHIB Whale Moves 3.37 Trillion Token Stash
A mysterious Shiba Inu ($SHIB) whale has moved its 3.37 trillion token stash in a large transaction that has caught the attention of the SHIBArmy for its size. It isn’t known what entity is behind the transaction.
Analysis from the Ethereum blockchain’s data shows that the 3.37 trillion $SHIB stash has been moved across a series of wallets over the last few months – all of them with now relatively small balances – before ending up at its current address.
The address in which the tokens are being held does not have any ETH on it, which suggests that it’s part of a larger wallet with more tokens. It isn’t clear whether the funds belong to a cryptocurrency exchange that’s organizing its cold wallet storage, or to an investor boosting the security of their $40 million worth of the meme-inspired cryptocurrency.
Hoskinson Says Cardano ‘Has Never Been Stronger’ and Is ‘Changing the World’
Charles Hoskinson has said that a “universal truth about crypto” is that the market is “disconnected from reality,” noting that Cardano has “never been stronger and frankly many other projects are also solid across the industry,” and don’t see that reflected in price.
Hoskinson added that the focus should be on the people being helped and problems being solved, on the “true purpose of the technology.”
Charles Hoskinson
The focus needs to always be the true purpose of the technology. The problems it solves. The people it helps. The previously impossible new experiences that are enabled. Cardano is changing the world thanks to all of you and our best days are ahead of us (2/2)
IOG, the blockchain technology company responsible for Cardano’s R&D, is focusing on a number of areas to further its goal, including microfinance through an investment in Kenyan fintech Pezesha.
What Else is Going On?
Cryptocurrency investor sentiment is remaining low as its Fear & Greed index, which serves as an aggregate for investor confidence and attitude towards the market, has dropped to 25, maintaining a state of “extreme fear.” The index has risen from 6 when BTC dropped below $18,000.
The index, it’s worth noting, is based on emotional behavior in the market. When fear sets in, some investors may see a buying opportunity, while greed may be a sign the market is due for a correction.
Total value locked in the decentralized finance (DeFi) space has meanwhile dropped to $59.8 billion, according to data from DeFiLlama. MakerDAO, the entity behind the DAI stablecoin, makes up 14.25% of the TVL with little over $8.53 billion on its protocol.
Other Top Stories
Dormant Bitcoin ($BTC) Supply Hits New All-Time High as Market 'Stress Tests' Weaker Hands | Cryptoglobe
FTX CEO on Ethereum ($ETH) Post Merge: “A Little Bit Rocky at the Beginning” | Cryptoglobe
How to Transfer Crypto From Coinbase to PayPal and Vice-Versa: A Step-by-Step Guide | Cryptoglobe
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CryptoGlobe Weekly Summary
CryptoGlobe Weekly Summary @CryptoGlobeInfo

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